Malaga Cove Capital LLC Trims Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Malaga Cove Capital LLC cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,531 shares of the retailer’s stock after selling 29 shares during the period. Costco Wholesale accounts for 1.3% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 24th biggest position. Malaga Cove Capital LLC’s holdings in Costco Wholesale were worth $3,130,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Costco Wholesale by 1.2% in the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after purchasing an additional 473,702 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Capital World Investors raised its stake in Costco Wholesale by 8.1% in the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after purchasing an additional 285,533 shares in the last quarter. Legal & General Group Plc lifted its position in Costco Wholesale by 2.5% during the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after purchasing an additional 88,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Costco Wholesale by 28.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after buying an additional 338,780 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $899.25 on Thursday. The company has a market capitalization of $398.43 billion, a PE ratio of 54.27, a PEG ratio of 5.45 and a beta of 0.80. The business has a fifty day moving average price of $891.92 and a 200-day moving average price of $848.69. Costco Wholesale Co. has a 1-year low of $562.01 and a 1-year high of $923.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the previous year, the company earned $4.86 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Melius Research initiated coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a report on Monday. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a report on Thursday, August 8th. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Evercore ISI increased their target price on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $905.30.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares in the company, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock valued at $11,238,510 over the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.